A proactive plan for protecting a company’s trade secrets is essential.
Increasingly, companies face potential risk when employees are exposed to unique processes and formulas. An employee who leaves and joins another company can disclose important information resulting in the loss of a competitive advantage. Fishman Stewart works with employers in manufacturing, information technology, biotechnology and other industries to develop trade secret protection strategies.
Trade secrets are formulas, industrial processes and other information used in business or industry that are not generally known to the public. Once a trade secret becomes known, exclusivity is lost. Therefore, a trade secret is protected only by maintaining its secrecy. As a result, a proactive plan for protecting a company’s trade secrets is essential. This includes a combination of employment agreements, licensing arrangements and other preventive measures.